Press release
Gear Measuring Machines Market Forecasted to Expand at 3.1% CAGR, Reaching $499.7 Million by 2032
The major reasons propelling the gear measuring markets are the growing output of automobiles and manufacturing, the notable acceleration of economic growth, and the paradigm change towards more energy-efficient products. By the end of 2032, the size of the global gear measuring machines market is expected to reach US$ 499.7 million, growing at a CAGR of 3.1%.
The gear measuring devices are equipped with a range of software packages, the price of which vary according to the gear manufacturers' specifications. Custom software design necessitates extensive research and development, which raises the cost of machines overall. Additionally, as accuracy rises, machine costs rise as well, which eventually impacts the company's profitability.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=2062
A significant advancement in this industry is the introduction of non-contact gear inspection, which is made possible by combining laser technology and gear measuring equipment to give manufacturers micron-level inspection accuracy. By utilising the full potential of the growing Internet of Things industry, manufacturers can stay one step ahead of their rivals. This will assist gear makers in reaching their operating objectives and boosting production. It is attractive to be able to collect a lot of data. Nevertheless, the information loses meaning if there is no strategy in place to evaluate and act upon it.
Key Takeaways from Gear measuring machines Market Study
The global gear measuring machines market is set to experience significant growth, with a projected compound annual growth rate (CAGR) of 3.1%, reaching an estimated value of US$ 499.7 million by 2032. This marks a notable increase from the 0.9% CAGR observed during the period from 2017 to 2021. One of the key segments driving this growth is gear measuring machines with a maximum working diameter above 1200 mm, which is expected to dominate the market with a valuation of US$ 136.4 million in 2022. The aviation industry, in particular, is anticipated to be a major application area, with the market for gear measuring machines in this sector projected to be worth US$ 32.7 million in 2022.
Regionally, Europe is poised to lead the market, commanding a 33.6% share in 2022. This dominance can be attributed to the region's strong industrial base and advanced manufacturing capabilities. Additionally, gear measuring machines designed for gears weighing below 50 Kg are expected to represent 25.7% of the market share in 2022. These machines are increasingly favored for their precision and efficiency in various industrial applications. Overall, the market dynamics indicate robust growth driven by technological advancements and the rising demand for accurate gear measurement in critical sectors such as aviation.
List of Key Companies Profiled in The Report
Gleason Corporation
KLINGELNBERG
KAPP Werkzeugmaschinen GmbH.
Wenzel America Ltd
Osaka Seimitsu Kikai Co., Ltd.
Tokyo Technical Instrument, Inc.
Gearspect Group A.S.
Marposs S.p.A.
Hexagon
ZEISS International
MDM Metrosoft S.r.l.
Others
Competitive Landscape
Manufacturers in the gear measuring machines market are increasingly focusing on enhancing product efficiency through the improvisation of their R&D departments. This strategic emphasis on innovation and improvement is aimed at distinguishing themselves from competitors and boosting market penetration.
Leading manufacturers like Klingelnberg and Gleason are offering comprehensive solutions for gear measurement needs, allowing various types of gears to be inspected using a single machine. Additionally, companies are forging partnerships with software firms to enhance the software integrated into their machines, aiming to improve the overall user experience with advanced and user-friendly features.
Gleason Corporation, in particular, has outlined a long-term plan to expand its operations, targeting the establishment of multiple manufacturing and assembly plants globally by 2022. This expansion strategy is part of Gleason's efforts to increase its global footprint and better serve its diverse customer base.
Want Full Report? Enquire Here-https://www.factmr.com/report/2062/gear-measuring-machine-market
Market Development
Market players are putting emphasis on R&D that will help manufacturers in quality assurance, cost optimization and process monitoring. Manufacturers are making an effort in standing apart from their competitors by focusing on supplying end users with high-quality products.
In 2021, The WENZEL Group unveiled new products into its portfolio of new generation gear inspection machines. This series is called the GT series. This series features several improvements and makes use of a completely new gear measurement software developed by the company.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
About Fact.MR:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
The gear measuring devices are equipped with a range of software packages, the price of which vary according to the gear manufacturers' specifications. Custom software design necessitates extensive research and development, which raises the cost of machines overall. Additionally, as accuracy rises, machine costs rise as well, which eventually impacts the company's profitability.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=2062
A significant advancement in this industry is the introduction of non-contact gear inspection, which is made possible by combining laser technology and gear measuring equipment to give manufacturers micron-level inspection accuracy. By utilising the full potential of the growing Internet of Things industry, manufacturers can stay one step ahead of their rivals. This will assist gear makers in reaching their operating objectives and boosting production. It is attractive to be able to collect a lot of data. Nevertheless, the information loses meaning if there is no strategy in place to evaluate and act upon it.
Key Takeaways from Gear measuring machines Market Study
The global gear measuring machines market is set to experience significant growth, with a projected compound annual growth rate (CAGR) of 3.1%, reaching an estimated value of US$ 499.7 million by 2032. This marks a notable increase from the 0.9% CAGR observed during the period from 2017 to 2021. One of the key segments driving this growth is gear measuring machines with a maximum working diameter above 1200 mm, which is expected to dominate the market with a valuation of US$ 136.4 million in 2022. The aviation industry, in particular, is anticipated to be a major application area, with the market for gear measuring machines in this sector projected to be worth US$ 32.7 million in 2022.
Regionally, Europe is poised to lead the market, commanding a 33.6% share in 2022. This dominance can be attributed to the region's strong industrial base and advanced manufacturing capabilities. Additionally, gear measuring machines designed for gears weighing below 50 Kg are expected to represent 25.7% of the market share in 2022. These machines are increasingly favored for their precision and efficiency in various industrial applications. Overall, the market dynamics indicate robust growth driven by technological advancements and the rising demand for accurate gear measurement in critical sectors such as aviation.
List of Key Companies Profiled in The Report
Gleason Corporation
KLINGELNBERG
KAPP Werkzeugmaschinen GmbH.
Wenzel America Ltd
Osaka Seimitsu Kikai Co., Ltd.
Tokyo Technical Instrument, Inc.
Gearspect Group A.S.
Marposs S.p.A.
Hexagon
ZEISS International
MDM Metrosoft S.r.l.
Others
Competitive Landscape
Manufacturers in the gear measuring machines market are increasingly focusing on enhancing product efficiency through the improvisation of their R&D departments. This strategic emphasis on innovation and improvement is aimed at distinguishing themselves from competitors and boosting market penetration.
Leading manufacturers like Klingelnberg and Gleason are offering comprehensive solutions for gear measurement needs, allowing various types of gears to be inspected using a single machine. Additionally, companies are forging partnerships with software firms to enhance the software integrated into their machines, aiming to improve the overall user experience with advanced and user-friendly features.
Gleason Corporation, in particular, has outlined a long-term plan to expand its operations, targeting the establishment of multiple manufacturing and assembly plants globally by 2022. This expansion strategy is part of Gleason's efforts to increase its global footprint and better serve its diverse customer base.
Want Full Report? Enquire Here-https://www.factmr.com/report/2062/gear-measuring-machine-market
Market Development
Market players are putting emphasis on R&D that will help manufacturers in quality assurance, cost optimization and process monitoring. Manufacturers are making an effort in standing apart from their competitors by focusing on supplying end users with high-quality products.
In 2021, The WENZEL Group unveiled new products into its portfolio of new generation gear inspection machines. This series is called the GT series. This series features several improvements and makes use of a completely new gear measurement software developed by the company.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
About Fact.MR:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
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